Marex Group plc Ordinary Shares (NASDAQ:MRX) Stock Now Rated “Buy” by Wall Street Brokerages

Shares of Marex Group plc Ordinary Shares (NASDAQ:MRX) have been assigned a consensus recommendation of “Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $83.38.

A number of research analysts recently commented on MRX shares. Barclays raised their price target on Marex Group plc Ordinary Shares from $86.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Jefferies Financial Group upped their price objective on shares of Marex Group plc Ordinary Shares from $57.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Piper Sandler increased their price objective on shares of Marex Group plc Ordinary Shares from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 2nd. UBS Group increased their price objective on shares of Marex Group plc Ordinary Shares from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $80.00 target price on shares of Marex Group plc Ordinary Shares in a research report on Friday, August 14th.

Institutional Investors Weigh In On Marex Group plc Ordinary Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP boosted its holdings in shares of Marex Group plc Ordinary Shares by 883.6% in the 2nd quarter. Wasatch Advisors LP now owns 1,683,061 shares of the company’s stock valued at $102,583,000 after purchasing an additional 1,511,952 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Marex Group plc Ordinary Shares in the 1st quarter valued at $1,758,000. Handelsbanken Fonder AB acquired a new position in shares of Marex Group plc Ordinary Shares during the 2nd quarter worth $1,048,000. Bank of New York Mellon Corp raised its holdings in shares of Marex Group plc Ordinary Shares by 11.2% during the 1st quarter. Bank of New York Mellon Corp now owns 484,524 shares of the company’s stock worth $21,600,000 after buying an additional 48,752 shares in the last quarter. Finally, Swedbank AB raised its holdings in shares of Marex Group plc Ordinary Shares by 66.1% during the 1st quarter. Swedbank AB now owns 354,413 shares of the company’s stock worth $15,800,000 after buying an additional 141,000 shares in the last quarter.

Marex Group plc Ordinary Shares Price Performance

MRX stock opened at $72.29 on Thursday. Marex Group plc Ordinary Shares has a fifty-two week low of $29.82 and a fifty-two week high of $79.11. The company has a quick ratio of 1.07, a current ratio of 1.09 and a debt-to-equity ratio of 1.53. The company has a market cap of $5.27 billion, a PE ratio of 12.98 and a beta of -0.02. The stock’s fifty day moving average price is $71.31.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last released its quarterly earnings results on Wednesday, August 12th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.36 by $0.28. The business had revenue of $695.80 million for the quarter. Marex Group plc Ordinary Shares had a net margin of 17.43% and a return on equity of 27.94%. The company’s revenue was up 39.1% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. Research analysts expect that Marex Group plc Ordinary Shares will post 6.11 EPS for the current year.

Marex Group plc Ordinary Shares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, August 24th. Marex Group plc Ordinary Shares’s payout ratio is currently 11.49%.

About Marex Group plc Ordinary Shares

Marex Group plc is a diversified financial services company that provides liquidity, market access, execution, clearing, hedging and other trading-related services to institutional, corporate and professional clients. The company operates across a range of markets, including commodities, energy, metals, agriculture, foreign exchange, interest rates, equities and credit.

Its businesses include agency and principal trading, market making, brokerage, exchange-traded and over-the-counter clearing, and the distribution of financial products.